Key Points

  • A group of US lawmakers has introduced a bill (National AI Commission Act) to establish a commission to oversee AI development and usage.
  • The bill was introduced on June 20 in a bipartisan effort to make the AI industry safer.

US lawmakers are pushing a bipartisan bill (National AI Commission Act) to regulate the emerging Artificial Intelligence industry and catch up with competitors like the EU while dealing with the risks involved. The bill seeks to create a commission under the Federal government and oversee AI building, distribution, and usage.

US lawmakers pushing to Catch up with AI Regulation

The National AI Commission Act closely follows the recently passed and signed EU AI Act. The EU AI Act monitors how generative AI like GPT4 is built and released commercially. It also protects users by inhibiting live recording, detailing, and other facial recognition systems.

The National AI Commission Act, introduced by Representatives Ted Lieu, Ken Buack, and Anna Eshoo, proposes creating a national body responsible for forming a comprehensive AI regulatory framework. It aims to address the potential risks associated with AI.

If the proposed commission is built, it will bring together experts, government officials, industry representatives, and labor stakeholders to deliberate and decide on the best approaches to streamline the industry. Merve Hickok, the President of the Centre for AI and Digital Policy, voiced support for the National AI Commission, saying that the proposal is timely and crucial. 

She expressed that the bill would introduce essential regulations that would bring everyone together to make the industry better and safer. These efforts by EU and US lawmakers come at a time when innovators and remarkable individuals like Elon Musk have been calling for regulating the AI Industry. 

Though some people claim that the influential CEOs want lawmakers to slow down AI so they can catch up, there has been genuine concern over the need for regulation in the industry. After the release of GPT AI, others have cropped up, with some being used for military purposes. In the US, one AI even killed its militant operator in a simulation for doing contrary to what was expected of him.

As such, it comes with genuine concern that the industry needs to be regulated. Keep watching Fintech Express for updates on AI and other Technology and regulation-related stories and developments.